Quikkloan, which is an online personal loan marketplace, has now secured an undisclosed amount of seed funding from the clutch of angel investors.
The startup will now be going to use the capital to refine its products, work on improving its data science capabilities, and also ramp up its sales to expand its presence.
The company, which is founded in 2016 by the Jamil Akhtar, is a Delhi based financial technology platform facilities personal loans via its partnership with the NBFC and Banks. It offers loans to the white and blue-collar salaried individuals with a salary of at least INR 20000 a month.
“Our product recommendation algorithm to suggest the right products, and customer acquisition or product distribution strategy makes us different from our competitors. We are looking to data science and machine learning technique to develop a more robust credit scoring underwriting platform by using alternate data,” Akhtar said.